Stephens Initiates Coverage on Check Point Software Technologies (NASDAQ:CHKP)

Stephens initiated coverage on shares of Check Point Software Technologies (NASDAQ:CHKP) in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm set an “equal weight” rating and a $255.00 price target on the technology company’s stock. Stephens’ price target points to a potential upside of 11.88% from the stock’s current price.

Several other equities analysts have also commented on CHKP. Guggenheim reaffirmed a “neutral” rating on shares of Check Point Software Technologies in a research report on Friday, January 31st. Citigroup lifted their price objective on shares of Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Scotiabank lifted their price objective on shares of Check Point Software Technologies from $215.00 to $250.00 and gave the company a “sector outperform” rating in a research note on Friday, January 31st. Barclays raised their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Finally, Arete Research raised Check Point Software Technologies to a “hold” rating in a research report on Monday, February 24th. Seventeen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Check Point Software Technologies presently has a consensus rating of “Hold” and a consensus target price of $235.09.

Check Point Software Technologies Stock Performance

CHKP stock opened at $227.92 on Tuesday. Check Point Software Technologies has a one year low of $145.75 and a one year high of $234.36. The firm has a market cap of $25.07 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 3.41 and a beta of 0.62. The firm has a 50-day simple moving average of $218.38 and a two-hundred day simple moving average of $198.86.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Nemes Rush Group LLC acquired a new position in Check Point Software Technologies in the fourth quarter valued at approximately $25,000. Capital A Wealth Management LLC acquired a new position in Check Point Software Technologies in the 4th quarter valued at about $29,000. GAMMA Investing LLC raised its stake in Check Point Software Technologies by 53.1% during the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after acquiring an additional 60 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in Check Point Software Technologies during the 4th quarter worth approximately $35,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Check Point Software Technologies during the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a multilevel security architecture, cloud, network, mobile devices, endpoints information, and IOT solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against fifth generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.